Section 7 in The Orissa Fertilizers Loans Rules, 1965
7. Interest and subsidy.
(1)The ordinary rate of interest on the loan shall be 8 per cent per annum.(2)The loanee will get a subsidy on interest at the rate of 2½ per cent per annum, if the principal along with the interest is paid within the period fixed for repayment.(3)The loans repaid beyond such period shall not be entitled to the subsidy and the amount of the loan outstanding shall be recovered forthwith together with interest at the rate of 12½ per cent per annum from the date of sanction of the loan.
